ContextLogic Inc. closed the most recent trading day at $0.77, moving +0.37% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.74%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 0.05%.
Prior to today's trading, shares of the company had lost 11% over the past month. This has lagged the Retail-Wholesale sector's gain of 3.09% and the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from ContextLogic Inc. as it approaches its next earnings release, which is expected to be November 9, 2022. In that report, analysts expect ContextLogic Inc. to post earnings of -$0.16 per share. This would mark a year-over-year decline of 220%. Meanwhile, our latest consensus estimate is calling for revenue of $119.04 million, down 67.65% from the prior-year quarter.
WISH's full-year Zacks Consensus Estimates are calling for earnings of -$0.64 per share and revenue of $629.29 million. These results would represent year-over-year changes of -12.28% and -69.82%, respectively.
It is also important to note the recent changes to analyst estimates for ContextLogic Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ContextLogic Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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ContextLogic Inc. (WISH) Gains As Market Dips: What You Should Know
ContextLogic Inc. closed the most recent trading day at $0.77, moving +0.37% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.74%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 0.05%.
Prior to today's trading, shares of the company had lost 11% over the past month. This has lagged the Retail-Wholesale sector's gain of 3.09% and the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from ContextLogic Inc. as it approaches its next earnings release, which is expected to be November 9, 2022. In that report, analysts expect ContextLogic Inc. to post earnings of -$0.16 per share. This would mark a year-over-year decline of 220%. Meanwhile, our latest consensus estimate is calling for revenue of $119.04 million, down 67.65% from the prior-year quarter.
WISH's full-year Zacks Consensus Estimates are calling for earnings of -$0.64 per share and revenue of $629.29 million. These results would represent year-over-year changes of -12.28% and -69.82%, respectively.
It is also important to note the recent changes to analyst estimates for ContextLogic Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ContextLogic Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.